International derivatives marketplace CME Group has issued a notice of disciplinary action against Park Jae Yeol.
On December 11, 2023, the Chief Regulatory Officer of CME Group’s Market Regulation Department issued charges against Park Jae Yeol for violating COMEX Rules 432.L.2, 575.B, and 576 based on allegations that on multiple occasions between October 21, 2020, and December 14, 2020, the authorized trader for Park’s account entered actionable messages in various COMEX Copper futures with the intent to mislead other market participants and receive favorable pricing.
Park’s agent exhibited a pattern of order entry and modification that alternated between creating buy-side pressure and sell-side pressure in order to induce market participants to trade into his smaller resting quantity on the opposite side of the market. The imbalance induced market participants…
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